무브

오르비

아톰

내 태그

내 태그 설정

입시
학습
생활
클럽
직업·취업
Epioptimus
Centurion

아​린 [840634] · MS 2018 (수정됨) · 쪽지

2021-02-17 17:21:14
조회수 594

영어 40번 유형 자작문제(쉬움)

게시글 주소: https://mclass.orbi.kr/00036289805

If buyers are less well-informed about product quality than sellers, and no additional information is available, market clearing prices must reflect some weighted average of product quality. Then if potential sellers of the highest quality products have the greatest opportunity costs and these costs exceed price, they will not enter the market. This "adverse selection" phenomenon is, however, offset if sellers of higher quality products can adopt sales-related activities that operate as a "signal" to potential buyers. These "informational equilibria" in which signaling is needed to distinguish product quality do not have the stability properties of classical Walrasian equilibria. It is shown that if product quality varies continuously across sellers, there is no informationally consistent set of prices and signals that is a Nash equilibrium set. An alternative noncooperative equilibrium concept is introduced and defended as a plausible imperfectly competitive equilibrium. It is then demonstrated that among the many informationally consistent sets of price-signal pairs, there is a unique "reactive equilibrium." 




If buyers are less well-informed about product quality than sellers, market prices will 

reflect           quality. Sellers of high-quality products therefore have an            to engage in some distinguishing activity which operates as a signal to potential buyers.




1. average       incentive

2. average       relief

3. excessive    tendency

4. lower          intervention

5. excessive    motivation



네

0 XDK (+0)

  1. 유익한 글을 읽었다면 작성자에게 XDK를 선물하세요.

아​린 [840634]

쪽지 보내기

글쓰기
오르비 1356010번째 회원 가입
ddna
1,422,072 건의 게시물이
블록체인에 디지털 공증되었습니다.
901,751
497,321
22,267
574
159

오늘의 추천 글

2026 수능D - 350

오르비 플레이

오르비 RARE

오르비 과외시장
Move
our corporate site
Orbi Class
on-line classes
Atom
educational books & resources
Gae9
humor and fun

© 2000-2024 Move Inc.

orbisoptimus (v17-7e2515)